Coronavirus is getting spread all around world putting pressure on the market. The US stock indices declined sharply.
The support rests at 1.09520 with resistance at 1.10960 which both lines are below the weekly pivot point at 1.12180. The EMA of 10 is moving with bearish bias in the descendant channel and it is below the EMA of 100 and the EMA of 200. The RSI is falling in oversold area, the Stochastic is showing upward momentum and the MACD line is below the signal line in the negative territory. The ADX is not showing any clear signals.
The bearish trend is limited to the lower Bollinger band, the price correction will begin afterwards targeting 1.11000.